Union Properties announced today, Monday, its financial statements for the first nine months of this year, which showed a significant decrease in profits, which amounted to 100% on an annual basis. .
According to the company's statement to the Dubai Financial Market today, the profits for the period amounted to about 1.4 million dirhams, compared to profits of 348.8 million dirhams for the same period last year.
The company attributed the decrease in profits during the comparison periods to the decline in profits from the change in the fair value of investment properties by 90% to reach 78.9 million dirhams, compared to 822 million dirhams during the nine months First 2020.
Following the company's announcement of the data for the period, the Dubai Financial Market decided to re-trade the shares of Union Properties starting today.